Lucid Diagnostics Inc. (NASDAQ:LUCD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Lucid Diagnostics Inc. (NASDAQ:LUCD) have earned an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.1250.

Several equities analysts have weighed in on LUCD shares. BTIG Research reiterated a “buy” rating and issued a $2.50 target price on shares of Lucid Diagnostics in a report on Monday, March 30th. Ascendiant Capital Markets raised their price target on shares of Lucid Diagnostics from $8.25 to $9.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lucid Diagnostics in a report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price objective on shares of Lucid Diagnostics in a research report on Thursday, March 26th. Finally, Wall Street Zen cut Lucid Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday.

Hedge Funds Weigh In On Lucid Diagnostics

A number of hedge funds have recently modified their holdings of the business. Perkins Capital Management Inc. purchased a new stake in Lucid Diagnostics in the 3rd quarter valued at about $1,138,000. Ghisallo Capital Management LLC purchased a new position in Lucid Diagnostics during the third quarter worth about $2,990,000. Aberdeen Group plc purchased a new position in Lucid Diagnostics during the third quarter worth about $2,525,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Lucid Diagnostics during the second quarter valued at about $43,000. Finally, Invesco Ltd. acquired a new stake in shares of Lucid Diagnostics during the second quarter valued at about $41,000. 74.01% of the stock is currently owned by hedge funds and other institutional investors.

Lucid Diagnostics Stock Up 2.0%

NASDAQ LUCD opened at $1.04 on Wednesday. The business’s fifty day simple moving average is $1.23 and its 200-day simple moving average is $1.19. The firm has a market cap of $203.06 million, a PE ratio of -1.08 and a beta of 1.10. Lucid Diagnostics has a 52 week low of $0.95 and a 52 week high of $1.70.

Lucid Diagnostics (NASDAQ:LUCD) last announced its quarterly earnings data on Wednesday, March 25th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The company had revenue of $1.50 million for the quarter, compared to analysts’ expectations of $1.39 million. Research analysts expect that Lucid Diagnostics will post -0.22 EPS for the current year.

About Lucid Diagnostics

Lucid Diagnostics is a molecular diagnostics company focused on improving early detection of oral and oropharyngeal cancers. The company’s flagship offering, the LucidDx Oral Cytology Brush Test, combines a minimally invasive brush biopsy tool with proprietary laboratory analysis to identify cellular abnormalities indicative of malignancy. Samples collected in dental and medical offices are sent to Lucid’s CLIA-certified and CAP-accredited laboratory, where advanced imaging and cytopathology workflows generate diagnostic reports for clinicians and patients.

Since commencing commercial operations, Lucid Diagnostics has worked to integrate its testing platform into dental practices, oral surgery clinics and ENT specialists across the United States.